Mises Daily
Author:
Tibor R. Machan
Online Publish Date:
In ancient times, the philosopher Aristotle championed a policy of moderation, by which he meant steering a path between two faulty extremes. For example, there is an alternative to acting cowardly and being rash, and that moderate position is the virtue of courage. This doctrine of the mean, as it came to be known, is the core of ancient ethical